Franchise Tag Window Opens; Will Falcons Re-Sign Kaleb McGary?

The Atlanta Falcons can now officially place the franchise tag on any of their free agents, including right tackle Kaleb McGary - but will they?

The Atlanta Falcons' crucial offseason is quickly approaching, with the NFL Combine starting next week and the new league year set to kick off March 15.

But the first big decision of Atlanta's offseason has arrived, as the window to place the franchise tag on impending free agents officially opened Tuesday morning.

The Falcons have a plethora of unrestricted free agents, but only one - right tackle Kaleb McGary - is expected to be in the mix for the franchise tag.

So, what exactly is the tag and will the Falcons give it to McGary?

The first part of the equation is determining whether Atlanta would utilize an exclusive or non-exclusive tag; the former restricts players from negotiating with other teams around the league while the latter allows negotiations but gives the tagging team the right to either match the offer or get a pair of first-round draft picks.

It's likely the Falcons will opt for the exclusive tag, which would result in McGary earning the average salary of the five highest-paid offensive tackles league-wide in 2023.

As of now, the projected price to exclusively tag McGary is $18.2 million, per Over The Cap.

McGary, who turns 28 before the start of free agency, is coming off a career year in which he earned an 86.6 overall rating by Pro Football Focus and played a key role in the Falcons holding the No. 3 rushing offense in the NFL.

But still, Atlanta declined McGary's fifth-year option last offseason as general manager Terry Fontenot and coach Arthur Smith evidently had seen enough in the prior three years to warrant another chance.

Does a fourth-year breakout change that? Only Fontenot and Smith know.

It's important to consider that McGary's market value is currently slated at $17.7 million annually, with Spotrac projecting a four-year, $70.9 million contract.

Thus, using the tag would be an overpay - if only slightly. Further, the Falcons are expected to enter contract extension talks with All-Pro right guard Chris Lindstrom and gave a big contract to left tackle Jake Matthews last offseason.

Will Atlanta want to dish out a third big contract to an offensive lineman?

The answer remains to be seen, but with $56 million in cap space, the Falcons could, in theory, make it work financially - it'll all come down to whether Fontenot and Smith truly want McGary back.

That decision will be made soon, as March 7 is the final day teams can assign the franchise tag, giving the Falcons exactly two weeks to make a final determination on McGary's future.

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You can follow Daniel Flick on Twitter @DFlickDraft

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